SiriusPoint Q3 2024 Earnings Report
Key Takeaways
SiriusPoint reported a net income of $5 million for the third quarter of 2024, impacted by the CMIG shareholder transaction. The core combined ratio improved to 88.5%, and gross premiums written for continuing lines grew by 10%. The balance sheet remains strong with a BSCR estimate of 265%.
Net income was $5 million, impacted by the CMIG shareholder transaction, with underlying net income up 69% year-over-year.
Core combined ratio improved by 4 points to 88.5%, with a year-to-date core combined ratio of 91.1% and core underwriting income of $144 million.
Gross premiums written for continuing lines grew by 10% in the quarter, contributing to 7% year-to-date growth.
Book value per diluted common share increased by 3% in the quarter and 10% since year-end 2023, reaching $14.73.
SiriusPoint
SiriusPoint
Forward Guidance
SiriusPoint did not provide specific forward guidance in the provided text. The CEO mentioned a focus on building a strong business with disciplined underwriting and strategic partnerships.